His press release is a puff piece designed to provide political cover in advance of the coming legislative session where PSPRS’ investment returns, mismanagement, and political shenanigans are going to be scrutinized by Governor Doug Ducey, a new legislature, and all the cities in the State of Arizona that have to pay for PSPRS’ underfunded public safety pensions.

No one gives a damn about a risk adjusted paycheck. You can only spend your ACTUAL paycheck. Hey public safety retirees, try spending those investment returns or cost of living adjustments you DON’T ACTUALLY HAVE!

See how that goes over at Wal-Mart.

Chief Investment Officer Parham’s press release was published by the Arizona Capital Times, the same mouthpiece that Board of Trustees Chairman/ Deputy Fire Chief Brian Tobin uses to tell the intelligentsia that nothing is wrong at PSPRS.